2019-11-11T11:42:13-06:00 2018-12-31 PricewaterhouseCoopers LLP 2001 MARKET ST SUITE 1800 PHILADELPHIA PA 19103 990 2018-01-01 230961140 PENNSYLVANIA STATE EMPLOYEES CREDIT UNION % HEATHER RIVAS PENN 8002377328 1500 ELMERTON AVENUE HARRISBURG PA 17110 CAROL NOBLIT VP, FINANCE 2673303000 2019-11-01 true ERIC M MCNEIL P00460263 2673303000 2019-11-01 167.68.125.77 23522320193155000046 2019-11-11 P 877FEAD71A7305358989ADD5C810017928629FEB F456C520C4F0493F307ED3F1DC1F0DE42227702A 2018 2020-04-17 16:48:07Z GREGORY A SMITH 1500 ELMERTON AVENUE HARRISBURG PA 17110 272504629 false X WWW.PSECU.COM X 1933 PA SEE SCHEDULE O 9 9 1148 0 1242534 0 0 0 211560689 241276927 12875193 18415234 10922619 12812468 235358501 272504629 310373 286982 0 0 60254144 69930628 0 0 0 133711180 161777622 194275697 231995232 41082804 40509397 5094016192 5356853183 4540137393 4763360676 553878799 593492507 SEE SCHEDULE O false false As of December 31, 2018, the Pennsylvania State Employees Credit Union had 453,181 members to whom it provides deposit and loan services. There were 307,135 loans with balances of $4,273,046,659 outstanding at December 31, 2018. Share deposits were $4,705,788,669. PSECU strives to provide its members with high quality, convenient financial products and services with superior pricing. false false false false false false false true false true false false false true false true false false false false false false false false false false true false true false false false false false false false false false false false false false false true 200 0 true 1148 true true true false false false false false false false X 9 9 false false false false true true true true true false false true true true true true true true true false X X HEATHER RIVAS 7177772265 1500 ELMERTON AVENUE HARRISBURG PA 17110 R BRIAN WILBUR DIRECTOR 8.0 0.0 X 14635 0 0 KATHLEEN A SALMON DIRECTOR 8.0 0.0 X 13715 0 0 JOSEPH A LAWRUK DIRECTOR 9.0 0.0 X 19260 0 0 JOSEPH SASSANO DIRECTOR 9.0 0.0 X 18776 0 0 JODI LYNNE BLANCH DIRECTOR 9.0 0.0 X 18655 0 0 TIMOTHY D GRUNSTRA DIRECTOR 8.0 0.0 X 14995 0 0 MICHAEL C FERSTER DIRECTOR 9.0 0.0 X 19892 0 0 SHAWN W WEIS DIRECTOR 8.0 0.0 X 15045 0 0 MATTHEW B WAGONER DIRECTOR 8.0 0.0 X 12932 0 0 GREGORY A SMITH CEO 37.5 0.0 X 971593 0 952633 WILLIAM C ZYSK CCO 37.5 0.0 X 303052 0 61619 THOMAS J RUBACK COO 37.5 0.0 X 305631 0 62905 CAROL M NOBLIT VP OF FINANCE 37.5 0.0 X 242224 0 35656 RICHARD L LONG VP 37.5 0.0 X 304841 0 43084 BARBARA J BOWKER VP 37.5 0.0 X 302617 0 44816 CATHERINE M TAMA-TROUTMAN VP 37.5 0.0 X 250778 0 45488 ANDREW J COY AVP 37.5 0.0 X 206841 0 46471 SCOTT J DAVIS VP 37.5 0.0 X 217864 0 46857 ROBERT R BURGER CHIEF DATA OFFICER 37.5 0.0 X 205181 0 41337 JODI HARNER AVP 37.5 0.0 X 202531 0 38945 3661058 0 1419811 106 false true false RED PRIVET LLC 415 MARKET ST SUITE 201 202 HARRISBURG PA 17101 DIGITAL DESIGN 891375 WELTMAN WEINBERG REIS CO LPA 323 LAKESIDE AVE SUITE 200 CLEVELAND OH 44111 LEGAL SERVICES 871915 MCNEES WALLACE NURICK PO BOX 1166 HARRISBURG PA 17108 LEGAL SERVICES 725136 allied universal 161 WASHINGTON ST SUITE 600 CONSHOHOCKEN PA 19428 SECURITY SERVICES 326068 RSA SECURITY LLC 174 MIDDLESEX TURNPIKE BEDFORD MA 01730 ELECTRONIC SECURITY 221512 12 0 INTEREST ON LOANS TO MEMBERS 522291 199118120 199118120 CREDIT CARD INTERCHANGE FEES 522100 33144641 33144641 ATM INCOME 522200 4691677 3613691 1077986 CHECKING ACCOUNT FEES 522100 4322489 4322489 241276927 18415234 18415234 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 OTHER INCOME 900099 12812468 12647920 164548 12812468 272504629 252846861 1242534 18415234 286982 0 0 0 5080869 0 46979186 5186010 8473438 4211125 0 782041 175331 0 0 0 5336480 11634669 13774817 5337197 0 5063519 913519 0 0 23131525 0 6593595 769747 PROVISION FOR LOAN LOSSES 24467620 LOAN SERVICING EXPENSE 13212993 ATM EXPENSE 12096598 CHECK CARD PROGRAM EXPENSE 8242912 30245059 231995232 659523336 583279855 95040743 122439849 0 0 0 0 0 0 0 0 3915221235 4227748151 0 0 0 0 135279578 44698533 82108814 90581045 249986374 237670116 10101888 9105880 0 0 0 0 82033802 86028287 5094016192 5356853183 35899420 51569000 0 0 0 0 0 0 9061831 10270332 0 0 0 0 0 0 4495176142 4701521344 4540137393 4763360676 X 0 0 692791 692791 553186008 592799716 553878799 593492507 5094016192 5356853183 X 40509397 -1010323 0 0 0 114634 X false true X true false false true X 4442176 0 4442176 74649533 10592311 64057222 2694942 1566837 1128105 31353971 22752125 8601846 22138955 9787259 12351696 90581045 0 MEMBERS' SHARES 4695518336 OTHER LIABILITIES 6003008 4701521344 272504629 272504629 272504629 231995232 231995232 231995232 PART IV, LINE 2B ESCROW ACCOUNTS ARE HELD FOR MORTGAGE LOANS. true AMERICAN HEART ASSOCIATION 7272 GREENVILLE AVE DALLAS TX 75231 135613797 501(c)(3) 60000 GENERAL DONATION CHILDREN'S MIRACLE NETWORK 205 WEST 700 SOUTH SALT LAKE CITY UT 84117 870387205 501(c)(3) 18000 GENERAL DONATION LEADERSHIP HARRISBURG AREA 3211 N FRONT ST HARRISBURG PA 17110 251583596 501(C)(3) 10000 GENERAL DONATION PA CREDIT UNION FOUNDATION 4309 N FRONT ST HARRISBURG PA 17110 251786339 501(c)(3) 17600 GENERAL DONATION CENTRAL PA FOOD BANK 3908 COREY RD HARRISBURG PA 17109 232202250 501(C)(3) 30000 GENERAL DONATION WORLDWIDE FOUNDATION FOR CREDIT UNIONS 5710 MINERAL POINT RD MADISON WI 53705 396093210 501(c)(3) 10000 GENERAL DONATION Junior Achievement 610 S George St York PA 17403 231598129 501(c)(3) 14100 General Donation YWCA OF HARRISBURG 1101 MARKET ST HARRISBURG PA 17103 231370514 501(C)(3) 14200 GENERAL DONATION CULTURAL ENRICHMENT FUND PO BOX 12084 HARRISBURG PA 17108 232327546 501(c)(3) 7500 GENERAL DONATION AMERICAN CANCER SOCIETY 250 WILLIAMS STREET ATLANTA GA 30303 131788491 501(C)(3) 20000 GENERAL DONATION UNITED WAY OF THE CAPITAL REGION 2235 MILLENNIUM WAY ENOLA PA 17025 231352095 501(C)(3) 17500 WHITAKER CENTER FOR SCIENCE ART 222 MARKET STREET HARRISBURG PA 17101 251724566 501(C)(3) 10000 12 PART I, QUESTION 2 THE PENNSYLVANIA STATE EMPLOYEES CREDIT UNION PROVIDES CHARITABLE CONTRIBUTIONS TO QUALIFIED U.S. ORGANIZATIONS AFTER REVIEW OF THEIR FORM 990 TO VERIFY TAX-EXEMPT STATUS. X true true X X X X X false true false GREGORY A SMITH CEO 643044 240930 87619 931464 0 21169 0 1924226 0 0 0 WILLIAM C ZYSK CCO 257630 30424 14998 40442 0 21177 0 364671 0 0 0 RICHARD L LONG VP 261973 30424 12444 32705 0 10379 0 347925 0 0 0 THOMAS J RUBACK COO 260280 30424 14927 44378 0 18527 0 368536 0 0 0 BARBARA J BOWKER VP 260384 30319 11914 32852 0 11964 0 347433 0 0 0 CATHERINE M TAMA-TROUTMAN VP 217973 20948 11857 36089 0 9399 0 296266 0 0 0 ANDREW J COY AVP 173105 24790 8946 23333 0 23138 0 253312 0 0 0 CAROL M NOBLIT VP OF FINANCE 211741 24767 5716 26262 0 9394 0 277880 0 0 0 SCOTT J DAVIS VP 189099 18650 10115 24297 0 22560 0 264721 0 0 0 ROBERT R BURGER CHIEF DATA OFFICER 176935 20824 7422 22818 0 18519 0 246518 0 0 0 JODI HARNER AVP 169796 24019 8716 22442 0 16503 0 241476 0 0 0 PART I, LINE 4(B) GREGORY A. SMITH PARTICPATED IN SUPPLEMENT NONQUALIFIED RETIREMENT PLANS FOR WHICH INCOME OF $64,074 WAS INCURRED IN 2018. PART I, LINE 1 AND PART III, LINE 1 ORGANIZATION'S MISSION THE PENNSYLVANIA STATE EMPLOYEES CREDIT UNION ("PSECU") IS ORGANIZED AND OPERATED TO PROMOTE THRIFT AMONG ITS MEMBERS AND CREATE A SOURCE OF CREDIT FOR THEM, AT LEGITIMATE RATES OF INTEREST, FOR PROVIDENT PURPOSES. IN ACCOMPLISHING ITS PURPOSES, PSECU CONTINUALLY STRIVES TO MAINTAIN A PROGRESSIVE AND FINANCIALLY STABLE CREDIT UNION THAT GIVES PSECU MEMBERS CONTROL OVER THEIR FINANCES. PSECU ALSO PROVIDES MEMBERS WITH A VARIETY OF HIGH QUALITY TRADITIONAL AND INNOVATIVE FINANCIAL PRODUCTS AND SERVICES, WHICH ARE CONVENIENT, WITH SUPERIOR PRICING AND AVAILABLE THROUGH SELF-SERVICE DELIVERY CHANNELS. PART VI, QUESTION 6 ALL PSECU MEMBERS MAY EXERCISE THE RIGHT AS AN OWNER/MEMBER AND VOTE IN PSECU'S ANNUAL ELECTION OF THE BOARD OF DIRECTORS AND CREDIT COMMITTEE MEMBERS. PART VI, QUESTION 7A ALL PSECU MEMBERS MAY EXERCISE THE RIGHT AS AN OWNER/MEMBER AND VOTE IN PSECU'S ANNUAL ELECTION OF THE BOARD OF DIRECTORS AND CREDIT COMMITTEE MEMBERS. PART VI, QUESTION 7B PSECU IS A FEDERALLY INSURED, STATE CREDIT UNION, THE ACTIONS OF WHICH ARE SUBJECT TO BOTH STATE AND FEDERAL REGULATIONS. AS DETAILED IN TITLE 17 OF PA CONSOLIDATED STATUTES, ANY FUNDAMENTAL CORPORATE CHANGE IS SUBJECT TO MEMBERSHIP VOTE. PART VI, QUESTION 11B THE FORM 990 IS PREPARED BY MANAGEMENT AND REVIEWED BY A THIRD PARTY ACCOUNTING FIRM. EACH DIRECTOR RECEIVED A COPY OF THE FORM 990 WHICH IS REVIEWED AT A BOARD MEETING HELD PRIOR TO THE FILING OF THE FORM 990. PART VI, QUESTION 12C ALL SENIOR MANAGEMENT AND DIRECTORS OF PSECU ARE REQUIRED TO COMPLETE AND SIGN A CONFLICT OF INTEREST DISCLOSURE WHICH MUST BE UPDATED ON AN ANNUAL BASIS. IN ADDITION, THESE INDIVIDUALS ARE RESPONSIBLE FOR NOTIFYING PSECU'S INTERNAL AUDIT SERVICES OF POTENTIAL OR ACTUAL CONFLICTS OF INTEREST AS THEY OCCUR. PART VI, QUESTION 15 PSECU'S BOARD OF DIRECTORS OVERSEES THE PRACTICES AND DESIGN OF PSECU'S EXECUTIVE COMPENSATION PROGRAM. THIS PROCESS CONSIDERS, BUT IS NOT LIMITED TO, AN ANNUAL BENCHMARKING REVIEW, EVALUATION OF EXECUTIVE PERFORMANCE, AND ASSESSMENT OF INCENTIVE COMPENSATION TO ENSURE THAT IT DOES NOT ENCOURAGE EXCESSIVE OR UNNECESSARY RISK TAKING. THE KEY COMPONENTS OF OUR EXECUTIVE COMPENSATION CONSIST OF BASE SALARY AND CASH INCENTIVES. THE INCENTIVES ARE LARGELY SET AROUND KEY PERFORMANCE OBJECTIVES SUCH AS ENSURING THE EFFICIENCY OF OPERATIONS, GROWTH IN MEMBERS AND LOANS, FINANCIAL SOUNDNESS, AND OTHER QUALITATIVE MEASURES. PART VI, QUESTION 19 PSECU MAKES ITS GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICY AVAILABLE TO THE PUBLIC UPON REQUEST. THE FINANCIAL STATEMENTS ARE AVAILABLE ON THE COMPANY'S WEBSITE. PART XI, LINE 9 OTHER CHANGES IN NET ASSETS CONSIST OF $114,634 OF PENSION AND POST-RETIREMENT BENEFIT ADJUSTMENTS. FORM 990 PART IX LINE 24 - OTHER EXPENSES DESCRIPTION:DIVIDENDS - SPECIAL TOTAL EXPENSES:22368727 FORM 990 PART IX LINE 24 - OTHER EXPENSES DESCRIPTION:OTHER TOTAL EXPENSES:7876332